Guangdong Haida Group Co., Ltd. Management System for Remuneration and Performance Evaluation of Directors and Senior Management
Chapter 1 General Provisions
Article 1 To further improve the remuneration management system for directors and senior management of Guangdong Haida Group Co., Ltd. (hereinafter referred to as the "Company"), establish a mechanism that is compatible with modern corporate governance and matches responsibilities, rights, and interests, fully mobilize the work enthusiasm of the Company's directors and senior management, improve the level of enterprise operation and management, and promote the healthy, sustainable, and stable development of the Company, this system is formulated in accordance with the "Company Law of the People's Republic of China" (hereinafter referred to as the "Company Law") and other laws, regulations, and the "Articles of Association."
Article 2 This system applies to the directors and senior management of the Company, but not to directors who do not receive remuneration from the Company.
Article 3 The remuneration of directors and senior management shall be linked to the Company's long-term development and shareholder interests, ensuring the Company's long-term stable development. The remuneration of directors and senior management shall be closely linked to the Company's performance and work objectives, and shall also be consistent with market value laws. The Company's remuneration system follows the following principles:
- Competitiveness principle: The remuneration provided by the Company is competitive compared to the income level of equivalent positions in the market.
- Remuneration determination based on position principle: The remuneration of each position within the Company reflects the value of each position to the Company and embodies the unity of "responsibility, rights, and interests."
- Linkage to company performance and individual performance principle.
- Combination of short-term and long-term incentives principle.
- Combination of incentives and constraints principle.